India to reduce tariffs on U.S. products worth $23billion 

India is willing to reduce tariffs on over half of U.S. imports valued at $23 billion in the initial phase of a trade deal currently under negotiation.

This move, the most significant tariff cut in years, is aimed at preventing retaliatory US tariffs.

With US President Donald Trump’s new reciprocal tariffs set to take effect on April 2, global markets have been rattled, and policymakers, including those in Western nations—are rushing to respond.

The South Asian nation wants to mitigate the impact of U.S. President Donald Trump’s reciprocal worldwide tariffs set to take effect from April 2, a threat that has disrupted markets and sent policymakers scrambling, even among Western allies.

According to an internal analysis by India, the new US tariffs could affect 87% of Indian exports to the US, valued at approximately $66 billion, two government officials said.

To avoid this impact, India is open to lowering tariffs on 55% of US imports that are currently taxed between 5% and 30%, according to sources. Some of these tariffs may be reduced significantly, while others could be entirely removed.

A US delegation, led by Brendan Lynch, Assistant US Trade Representative for South and Central Asia, is set to visit India for trade talks beginning Tuesday. The Indian government hopes to finalize a deal before the US reciprocal tariffs take effect.

During Prime Minister Narendra Modi’s visit to the US in February, both nations agreed to begin early trade talks to resolve tariff disputes. However, India’s willingness to lower tariffs hinges on whether the US will ease reciprocal tariffs, according to officials.